Prostatis Group LLC Takes $256,000 Position in GitLab Inc. $GTLB

Prostatis Group LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the second quarter, HoldingsChannel.com reports. The firm bought 5,683 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently bought and sold shares of GTLB. 1832 Asset Management L.P. boosted its position in GitLab by 2,456.8% during the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company’s stock worth $107,865,000 after acquiring an additional 2,205,238 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in GitLab during the first quarter worth approximately $60,371,000. ARK Investment Management LLC boosted its position in GitLab by 109.1% during the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company’s stock worth $114,038,000 after acquiring an additional 1,265,830 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in GitLab by 175.1% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company’s stock worth $65,529,000 after acquiring an additional 888,900 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in GitLab during the first quarter worth approximately $39,976,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In related news, Director Matthew Jacobson sold 396,147 shares of GitLab stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the sale, the director owned 73,299 shares of the company’s stock, valued at $3,703,798.47. The trade was a 84.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Simon Mundy sold 5,191 shares of GitLab stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the sale, the chief accounting officer directly owned 53,507 shares in the company, valued at $2,353,772.93. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,224,362 shares of company stock worth $59,723,796. 21.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $58.00 target price on shares of GitLab in a research report on Thursday, September 4th. UBS Group decreased their target price on shares of GitLab from $73.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Capital One Financial lowered shares of GitLab from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a research report on Wednesday, July 16th. Wells Fargo & Company assumed coverage on shares of GitLab in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 price target on the stock. Finally, Truist Financial decreased their price target on shares of GitLab from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.83.

GitLab Trading Down 4.8%

Shares of GTLB stock opened at $44.61 on Monday. The company’s fifty day simple moving average is $46.08 and its 200-day simple moving average is $45.75. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The company has a market cap of $7.44 billion, a PE ratio of -1,115.25 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $227.20 million. During the same period in the prior year, the business posted $0.15 EPS. The business’s revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Equities research analysts expect that GitLab Inc. will post -0.31 EPS for the current fiscal year.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.